Vault12 (VGT)

Overview

Distributed, decentralized and serverless digital custody for all your cryptocurrency.

Project stage

Prototype

Detailed description

The Vault Cryptostorage Platform is a new, open-source initiative to leverage decentralized cryptography and storage to protect our most precious digital assets. Today, this means cryptocurrencies. In the future, this could include titles, passports, house keys, car keys and all kinds of other digital credentials.

Designed to be used alongside traditional hardware, software and online wallets, the Vault Cryptostorage Platform gives cryptocurrency owners the peace of mind that their crypto assets not only remain backed up and cryptographically secure, but also accessible regardless of well-known and emerging threat vectors. The Vault Cryptostorage Platform takes an entirely new, decentralized cryptographic approach that can be easily deployed on existing mobile devices and combines it with a distributed storage network, which is made possible with the advent of decentralized cryptography.

Problem

In a world where our most precious digital assets include cryptocurrencies, the security of these assets is at an unprecedented threat level. Whether it is natural disasters, organized crime rings, malicious governments, hacked accounts or the very fabric of our computer chips, the default security of our digital landscape is broken. And yet, cryptocurrencies themselves are just at the beginning of a new, world-wide shift towards empowering individual ownership secured by fundamental cryptography. In a few years, it won’t be just cryptocurrencies. It will be house keys, car keys, real estate titles and all sorts of personal property that are secured by cryptographic keys.

As cryptocurrency investors start to invest in more and more coins, the number of accounts and wallets needed will also increase. Given the threat landscape, protecting this currency, whether for the short term or the long haul, is critical. A better solution is needed to prevent more high-profile hacks and the subsequent loss of assets — some of it irretrievably.

Solution

The Vault Cryptostorage platform delivers an entirely new distributed and decentralized cryptographic approach and combines it with an innovative storage network made possible with the advent of serverless technologies.

Features

Decentralized CryptographyVault12 uses a powerful form of cryptography known as Hierarchical Threshold Shamir Secret Sharing (H3S) which splits your crypto assets into shards and distributes them across a mesh network of trusted people and devices.

Decentralized StorageOnce encrypted the resulting shards are stored in a mesh information storage (MIST) network of trusted people and devices, known as Guardians, that you invite to secure your vault.

Cryptostorage VaultsVaults can store any assets that represent root artifacts of your cryptocurrencies. Be that pre-generated private keys, derivation seeds, QR codes, recovery phrases or even hand-written notes – any asset of any currency can be stored in your Vault.

RestorationNot all of your Guardians need to respond to restore requests - your cryptocurrency assets can be restored fully with only a partial number of Guardians. In the future, you will be able to define exactly what that storage policy is for each vault.

Security and PrivacyCryptocurrencies are opaquely stored on a mesh network of devices - which are controlled by you and your trusted circle. You have complete ownership and privacy of your data - Vault12, the company, guardians or anyone else cannot access or see the data.

Security and Storage PoliciesYou will be able to define security policies for adding more than 6 Guardians, assigning high-security Guardians, and defining how many Guardians needed to unlock your assets. For storage, you will be able to define additional members of your mesh network to provide greater resilience, global distribution, and redundancy.

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Token details

Token symbol
? Token symbol — a shorten token name. It is used during an ICO and after the coin listing at the cryptocurrency exchanges. :VGT

Fundrasing target ? Fundraising target — the maximum amount of funds to be raised during an ICO. When it is reached, the developers stop selling the tokens because they do not need to raise more money for the project development. : NA

Token type ? Token type — a platform for a startup launch that influences the stability of blockchain operation, the speed of transactions and the fees. :Own blockchain ()

Soft cap ? Soft cap — the minimum amount of funds to be raised for the project development. Sometimes when the soft cap has not been reached, the money is returned to the participants. : NA

Role of token ? Role of Token — type of token depending on the opportunities it offers to its owner. Utility tokens give their owners a right to use the project services, security tokens are aimed at bringing profit, and currency tokens are a money substitute. :NA

Total supply ? Total supply — a total amount of tokens that will be released by the developers. :1,000,000,000 VGT

Escrow agent ? Escrow agent — a qualified agent who has the right of signature in a multisig wallet. An escrow agent participates in an ICO, monitors the financial operations of the developers and confirms their fairness. :No

Tokens for sale ? Tokens for sale — the number of tokens offered to the participants of an ICO. :400,000,000 VGT

Whitelist ? Whitelist — a list of participants, who get an opportunity to buy tokens. To be whitelisted, you need to register on time because the number of participants and the registration period are usually limited. :Whitelist N/A

Additional emission ? Additional emission — an additional release of tokens. It can be done once after the crowd sale or on an ongoing basis. In the projects with a limited emission there is no additional emission. :No

Exchange listing ? Exchange listing — an assumed date when the token will be listed at a cryptocurrency exchange. The developers usually indicate it in a roadmap and a white paper. :NA

Accepting currencies ? Accepting currencies — cryptocurrencies and fiat currencies that can be used for buying the project tokens. :NA

Can't participate ? Can't participate — the countries where it is prohibited to buy tokens. These can be countries where ICOs are prohibited altogether, or countries that have the requirements that a particular project does not meet. :No

Know Your Customer (KYC) ? Know Your Customer — a verification procedure for ICO participants, during which the developers can ask for personal data, a photo and a scanned copy of a passport of a potential investor. :No

Roadmap

No information

Activity

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